Stop asking ‘What is Strategy?’

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Online groups  seem obsessed with asking what Strategy is, and what’s its value. If we don’t know, we can hardly expect others to listen to us. It’s simply setting powerful but realistic aims, and defining how to get there. It’s purpose is to create business value (NPV of future free cash flows). Because things change, these must be updated continually. (In non-commercial cases, the purpose is to achieve non-financial aims, though within financial constraints).

So, let’s stop debating this basic issue, ...

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Short online strategy course

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Just launched a short course at open learning materials provider, Coggno.  Its free intro on ‘what is strategy’ may be useful in any case – it makes the case, with  examples, that steering strategy and performance is a larger issue that the infrequent choice of strategic ‘position’ that dominates strategy books and courses. The short course is based on the full 10-week video slide-show course used in MBA programs.

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What is strategy? … and the strategy life-cycle

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Just working on the first chapter of the textbook 2nd edition, and thought it needed a bit more on this question – found the only way to explain to newbies was to go through an organization’s life and track what ‘strategic management’ actually does over that time-horizon. Main messages are:

  • The choice of strategic ‘position’ [what to provide, to whom and how, relative to rivals] is a very rare activity.
  • Substantial strategic initiatives [acquisition, new market entry etc] occur occasionally.
  • By far the ...
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